Appeals court rules Do Kwon, Terraform Labs must heed SEC subpoena served in ...
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse. The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities.Kwon was served with the subpoena in September 2021 while he was attending a conference in New....
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Do Kwon, co-founder and CEO of Terraform Labs, the company that backs the Terra blockchain ecosystem, is suing the U.S. Securities and Exchange Commission (SEC). Kwon, who was served a subpoena while appearing at Messari’s Mainnet conference as a presenter, states this behavior was against the SEC’s own policies, and that they needed to go through proper channels to deliver the subpoena.
Do Kwon Takes the Fight to the SEC
Do Kwon, the co-founder and CEO of Terraform Labs, the company behind the design and creation of Terra, a smart contracts-enabled cryptocurrency,....
Analyst Michaël van de Poppe said that the Terra founder deserves jail, comparing Kwon to fraudster Bernie Madoff, who was jailed after running a Ponzi scheme. Reports that Terra (the new LUNA orLUNA2) founder Do Kwon allegedly withdrew $80 million monthly before the project crashed surfaced Friday, leading members of the community to voice their opinions on the matter.In a tweet, crypto trader and analyst Michaël van de Poppe said that Kwon deserves imprisonment. He compared the Terraform Labs CEO to the infamous fraudster Bernie Madoff. “Honestly, he deserves jail,” Van de Poppe wrote.....
Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders....
A recent court filing stemming from the Southern District of New York shows that a U.S. district judge has ordered the crypto startup Terraform Labs to comply with the Securities and Exchange Commission’s (SEC) subpoenas. During the second week of November 2021, the U.S. regulator filed a subpoena enforcement action against Terraform Labs and the startup’s CEO, Do Kwon. U.S. Regulator Gets New York Judge to Side With Investigative Subpoenas Plea On February 17, 2022, a court order signed by the United States district judge J. Paul Oetken details that the startup Terraform....
The United States Securities and Exchange Commission (SEC) has introduced an action against Terraform Labs, the company behind the design of the Terra blockchain, and its co-founder and CEO Do Kwon. The SEC is seeking an order for Kwon to comply with a series of subpoenas he has failed to address. The investigative subpoenas seek Kwon’s testimony and the production of documents from Terraform Labs
SEC Acts Against Terraform Labs and Do Kwon
The United States Securities and Exchange Commission (SEC) has taken the next step in its battle against Terraform Labs, the company....